OppenheimerFunds Inc. Invests $349,000 in ResMed Inc. (RMD) Stock

OppenheimerFunds Inc. acquired a new stake in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,124 shares of the medical equipment provider’s stock, valued at approximately $349,000.

Other hedge funds have also recently made changes to their positions in the company. Congress Asset Management Co. MA increased its stake in shares of ResMed by 2.2% in the 4th quarter. Congress Asset Management Co. MA now owns 1,078,645 shares of the medical equipment provider’s stock worth $91,350,000 after acquiring an additional 23,714 shares during the last quarter. Legal & General Group Plc increased its stake in shares of ResMed by 0.7% in the 3rd quarter. Legal & General Group Plc now owns 765,271 shares of the medical equipment provider’s stock worth $58,892,000 after acquiring an additional 5,169 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of ResMed by 4.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 689,671 shares of the medical equipment provider’s stock worth $58,409,000 after acquiring an additional 28,691 shares during the last quarter. American Capital Management Inc. increased its stake in shares of ResMed by 0.6% in the 4th quarter. American Capital Management Inc. now owns 660,818 shares of the medical equipment provider’s stock worth $55,965,000 after acquiring an additional 3,976 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of ResMed by 0.3% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 520,528 shares of the medical equipment provider’s stock worth $40,060,000 after acquiring an additional 1,709 shares during the last quarter. Institutional investors own 62.40% of the company’s stock.

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Shares of RMD stock opened at $95.47 on Friday. The stock has a market capitalization of $13,789.61, a PE ratio of 30.73 and a beta of 0.94. ResMed Inc. has a 52-week low of $67.04 and a 52-week high of $104.78.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Monday, January 22nd. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.22. The firm had revenue of $601.27 million during the quarter, compared to the consensus estimate of $583.77 million. ResMed had a return on equity of 22.75% and a net margin of 12.98%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $0.73 EPS. research analysts anticipate that ResMed Inc. will post 3.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, February 8th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Wednesday, February 7th. ResMed’s payout ratio is 70.00%.

A number of analysts have issued reports on RMD shares. Zacks Investment Research downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. BMO Capital Markets raised their target price on ResMed to $90.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 23rd. Northland Securities raised ResMed from an “under perform” rating to a “market perform” rating in a research note on Tuesday, January 23rd. Macquarie downgraded ResMed from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 23rd. Finally, ValuEngine raised ResMed from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. ResMed has an average rating of “Hold” and a consensus price target of $75.17.

In related news, insider James Hollingshead sold 600 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $84.96, for a total transaction of $50,976.00. Following the completion of the sale, the insider now directly owns 62,602 shares of the company’s stock, valued at approximately $5,318,665.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald R. Taylor sold 4,885 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $99.71, for a total value of $487,083.35. Following the sale, the director now directly owns 21,751 shares of the company’s stock, valued at $2,168,792.21. The disclosure for this sale can be found here. Insiders have sold a total of 46,139 shares of company stock valued at $4,595,966 over the last three months. Corporate insiders own 1.77% of the company’s stock.

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About ResMed

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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